Government agencies rarely receive applause for efficiency. Botswana Investment and Trade Centre believes it has earned some.
Figures presented by the parastatal show that over the past 14 years, BITC facilitated P29.1 billion in foreign direct investment, P32.5 billion in business expansions and P48.3 billion in exports. Combined, these activities generated more than P109 billion against total government subventions of roughly P1.16 billion. The agency says the projects also created over 51,000 jobs.
The figures arrive at a time when government finances are under pressure and public institutions are expected to justify their budgets.
Global growth is expected to remain subdued, investors are becoming more selective and countries are competing more aggressively for capital. Increasingly, investors are prioritising policy certainty, ease of doing business and sustainability credentials.
BITC’s argument is that investment promotion should not be viewed as a cost centre but as an economic multiplier. Since its establishment in 2012, following the merger of BEDIA and the International Financial Services Centre, the organisation has been tasked with attracting investment, promoting exports and managing Botswana’s national brand.
Yet the agency acknowledges a tougher operating environment. Global growth is expected to remain subdued, investors are becoming more selective and countries are competing more aggressively for capital. Increasingly, investors are prioritising policy certainty, ease of doing business and sustainability credentials.
To respond, BITC plans to focus investment promotion on sectors identified under the Botswana Economic Transformation Programme and National Development Plan 12 while strengthening Botswana’s competitiveness as an investment destination.
